GoPro (NASDAQ:GPRO) Upgraded at StockNews.com

StockNews.com upgraded shares of GoPro (NASDAQ:GPRO) from a sell rating to a hold rating in a report issued on Monday morning.

Separately, Wedbush reiterated a “neutral” rating and set a $1.50 price target on shares of GoPro in a report on Friday, January 31st.

GoPro Trading Down 3.9 %

Shares of GPRO opened at $0.73 on Monday. GoPro has a 12-month low of $0.64 and a 12-month high of $2.32. The firm has a market capitalization of $113.25 million, a P/E ratio of -0.26 and a beta of 1.62. The firm has a 50-day moving average price of $0.86 and a 200 day moving average price of $1.12. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51.

GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.12). GoPro had a negative net margin of 53.94% and a negative return on equity of 55.77%. Sell-side analysts forecast that GoPro will post -0.25 EPS for the current year.

Hedge Funds Weigh In On GoPro

A number of hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake in GoPro by 153.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 23,905 shares of the company’s stock worth $26,000 after purchasing an additional 14,485 shares in the last quarter. R Squared Ltd purchased a new stake in shares of GoPro in the 4th quarter valued at $27,000. Intech Investment Management LLC acquired a new position in GoPro during the 3rd quarter worth about $35,000. Picton Mahoney Asset Management boosted its holdings in GoPro by 77.4% during the 4th quarter. Picton Mahoney Asset Management now owns 27,908 shares of the company’s stock valued at $30,000 after acquiring an additional 12,172 shares during the period. Finally, MetLife Investment Management LLC grew its position in GoPro by 90.4% in the 4th quarter. MetLife Investment Management LLC now owns 36,134 shares of the company’s stock valued at $39,000 after acquiring an additional 17,158 shares in the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

About GoPro

GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the Americas, Europe, the Middle East, Africa, the Asia and Pacific region, and internationally. The company provides cloud connected HERO12 Black, HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, and HERO9 Black waterproof cameras; MAX, a 360-degree waterproof camera; Premium and Premium+ subscription services, which include full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription that offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik desktop and mobile apps that enable users to get their favorite photos and videos with footage from any phone or camera.